Blank Check IPOs (SPACS) Message Board

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Technology Stocks : Blank Check IPOs (SPACS)

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To: Glenn Petersen who wrote (2823)	10/16/2020 1:15:07 PM
From: Glenn Petersen	of 3862

The shareholders of Opes Acquisition (stock symbol: OPES), which is going to merge with BurgerFi, recently approved a proposal to amend and restate the Company’s certificate of incorporation to extend the date by which the Company has to complete a business combination for an additional 60 days, from September 16, 2020 to November 15, 2020. That was the fifth extension for OPES. With each extension, OPES shareholders have been given the option to redeem their shares. To date, OPES shareholders have redeemed $73.1 million of their shares. The OPES shareholders are now being asked to approve a sixth extension. sec.gov Is the deal dead? Probably not, at least for now. The Chairman of OPES has just announced the hiring of a new CEO for BurgerFi. The old CEO must have been a roadblock. Note that NRN mistakenly reports that the merger has been completed. nrn.com OPES is trading at $11.57 this afternoon.

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